So you’ve decided to start your private label journey and the first question that comes to mind is, what do I sell? This can be a daunting question that ends up leaving you with analysis paralysis. Check out these 5 tips that will help you move forward on your journey, just remember to take it one step at a time.
- Choose a product in a niche that you are passionate about. This way you give yourself the best shot at success. You should have extensive knowledge about this niche and due to the fact that it is a niche, you’ll have fewer competitors than if you were to sell socks, for example
- You might find that what you want to sell is already being sold on Amazon. This is an opportunity to fight your way in. Do you think you can take better pictures? Offer better packaging? Write better copy? Success comes to those that want it more. Do better than your competitors and fight for your success.
- Just slapping your logo onto a product you find on Alibaba is technically private label, but you’ll find that minimal effort returns minimal reward. Find ways to strengthen the product, in ways that your competitors have neglected. This is easier said than done, but the idea is to try to develop your own products instead of just selling what is on Alibaba. This way you differentiate yourself as well as protect yourself from being copied and under cut.
- Let’s say your niche is motorcycling. Think about things to sell that a significant other could give to their motorcycling sweetheart for their birthday, for Christmas. Think about what you can sell that a motorcyclist can buy to show off to their motorcycling buddies, their coworkers. Think about what you can sell that solves a problem motorcyclists experience. Perhaps a 3D printed paddle that screws onto the throttle to help prevent wrist pain during long rides.
- Last tip is that whatever you end up choosing, don’t make the mistake of ordering a unit over 500. Try to keep it to 200-300. minimize your risk. Once it proves to be sellable, then start ramping up volume while negotiating better prices. The first 200 is just to test the waters, breaking even is perfectly acceptable.